Teacher Retirement System of Texas Grows Position in WEX Inc. (NYSE:WEX)

Teacher Retirement System of Texas raised its position in WEX Inc. (NYSE:WEX) by 120.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,688 shares of the business services provider’s stock after purchasing an additional 4,746 shares during the period. Teacher Retirement System of Texas’ holdings in WEX were worth $1,523,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of WEX in the 3rd quarter valued at $35,000. Jones Financial Companies Lllp grew its position in WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after purchasing an additional 129 shares during the last quarter. UMB Bank n.a. increased its stake in WEX by 552.5% in the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 221 shares during the period. Brooklyn Investment Group purchased a new stake in shares of WEX in the third quarter valued at about $59,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of WEX by 25.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock worth $56,000 after buying an additional 66 shares during the period. 97.47% of the stock is owned by institutional investors and hedge funds.

WEX Trading Down 0.4 %

Shares of WEX stock opened at $154.69 on Friday. The company has a 50-day moving average of $162.27 and a two-hundred day moving average of $179.32. WEX Inc. has a 12-month low of $146.03 and a 12-month high of $244.04. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The stock has a market cap of $6.00 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61.

WEX (NYSE:WEX) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. On average, research analysts anticipate that WEX Inc. will post 14.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on WEX. Citigroup cut WEX from a “buy” rating to a “neutral” rating and dropped their price target for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Wells Fargo & Company decreased their price target on WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Robert W. Baird set a $186.00 price objective on shares of WEX in a research report on Tuesday, February 18th. William Blair restated a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. Finally, UBS Group dropped their price target on shares of WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $187.80.

WEX Company Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.